MobiKwik expects to surpass the 10 million user base by November

NEW DELHI: Digital wallet service firm MobiKwik today said it estimates to reach the user base of 10 million by November.

"MobiKwik is estimating to reach the user base of 10 million by November," the company said in a statement.

In digital wallet, be it on computer or mobile, people can load money and that can be used for making payments over Internet.

MobiKwik said its 10 per cent of current revenue is driven by the third-party e-commerce sites and application-based transactions. By March 2015, the company expects these transactions to account for about 30 per cent of the total revenue generated.

The digital wallet company claimed that it is adding an average of 30,000 new users ever day and handling about 2 lakh transaction across 5,000 merchants on e-commerce websites.

"Overall, the company has eight million wallet users, of which 5 million are on mobile devices," MobiKwik said.

The company also has plans to increase it headcount to 150 by end of this year from 90 at present.